Hopes in Jordan to achieve 3.5-4 percent growth

Minister of Planning Jawad Hadid on Sunday expressed hope that Jordan would achieve 3.5 to 4 percent economic growth this year, noting that in the 1999-2000 period Jordan received $1.831 billion in gr

Minister of Planning Jawad Hadid on Sunday expressed hope that Jordan would achieve 3.5 to 4 percent economic growth this year, noting that in the 1999-2000 period Jordan received $1.831 billion in grants and loans, with grants accounting for 64.2 percent of the total amount.

According to the minister, the World Bank was the main source of loans to the Kingdom, providing 34.2 percent of total loans. Jordan is also the fourth largest recipient of US aid and has received nearly $1 billion in economic and military assistance over the past three years.

In an interview with Ad-Dustour Arabic daily, Hadid said the recently concluded trade protocol with Iraq will help compensate Jordan for its losses in other sectors such as tourism that has suffered as a result of political developments in the region.

The minister said economic reforms have succeeded in keeping inflation at an acceptable level and helped the country amass sufficient foreign currency reserves. Referring to the unemployment rate in the country, Hadid said the figure which stood at 15.6 percent last December, had come down to 13.4 percent in August.

According to the minister, the social security package sponsored by the government to help modernize infrastructure services and create jobs is expected to yield fruit and help combat unemployment and poverty. — ( Jordan Times [1])